Sirius XM (NASDAQ:SIRI) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Sirius XM (NASDAQ:SIRI) in a research note published on Sunday. The brokerage issued a hold rating on the stock.

Several other brokerages also recently issued reports on SIRI. Wells Fargo & Company reduced their price target on shares of Sirius XM from $4.50 to $3.00 and set an underweight rating on the stock in a report on Monday, April 1st. Benchmark cut their price objective on shares of Sirius XM from $7.00 to $6.50 and set a buy rating for the company in a research report on Wednesday, March 27th. Citigroup boosted their price objective on shares of Sirius XM from $3.60 to $4.10 and gave the company a sell rating in a research report on Friday, January 12th. Finally, Guggenheim started coverage on shares of Sirius XM in a research report on Thursday, March 14th. They issued a neutral rating and a $4.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $4.67.

Sirius XM Stock Performance

SIRI stock opened at $3.16 on Friday. The company has a market cap of $12.15 billion, a P/E ratio of 9.88, a P/E/G ratio of 1.06 and a beta of 1.04. Sirius XM has a 52 week low of $3.04 and a 52 week high of $7.95. The company’s 50-day moving average price is $3.92 and its 200 day moving average price is $4.62.

Sirius XM (NASDAQ:SIRI) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. Sirius XM had a net margin of 14.05% and a negative return on equity of 42.54%. On average, equities research analysts expect that Sirius XM will post 0.29 earnings per share for the current year.

Insider Activity

In other news, insider Joseph A. Inzerillo sold 107,611 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $4.90, for a total value of $527,293.90. Following the completion of the transaction, the insider now directly owns 746,816 shares in the company, valued at $3,659,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James E. Meyer sold 800,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $4.92, for a total value of $3,936,000.00. Following the transaction, the director now directly owns 1,091,472 shares in the company, valued at approximately $5,370,042.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the completion of the transaction, the insider now owns 746,816 shares in the company, valued at $3,659,398.40. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

Institutional Trading of Sirius XM

Large investors have recently modified their holdings of the company. AE Wealth Management LLC increased its stake in Sirius XM by 9.2% during the 3rd quarter. AE Wealth Management LLC now owns 93,104 shares of the company’s stock valued at $421,000 after buying an additional 7,837 shares during the period. HB Wealth Management LLC boosted its position in shares of Sirius XM by 27.3% during the 3rd quarter. HB Wealth Management LLC now owns 14,740 shares of the company’s stock valued at $67,000 after purchasing an additional 3,163 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Sirius XM during the 3rd quarter valued at about $282,000. Handelsbanken Fonder AB boosted its position in shares of Sirius XM by 16.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 144,166 shares of the company’s stock valued at $652,000 after purchasing an additional 19,832 shares in the last quarter. Finally, Clarius Group LLC bought a new position in shares of Sirius XM during the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 10.69% of the company’s stock.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.